Rishi Sunak Britain covid-19 economy Government Rishi Sunak Britain

Fears of huge job losses as government winds down furlough scheme

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www.mirror.co.uk

A wave of job losses is feared when the Government begins winding down its furlough scheme for millions of workers hit by the Covid-19 crisis.

Chancellor Rishi Sunak has tried to reassure more than six million people getting the wage bailout that the scheme will not end on a “cliff edge”.

Currently, the Coronavirus Job Retention Scheme is due to run until June 30. One option being considered by the Treasury is “tapering” the current 80% of workers’ wages paid by the state to 60% initially, then further cuts over time.

But with around a quarter of the UK’s entire workforce furloughed, there are concerns that pulling the plug will lead to large-scale redundancies.

Read more on mirror.co.uk
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